3.3.3 Resident options

Both an accommodation payment and an accommodation contribution can be paid as a refundable deposit (lump sum), a daily payment or a combination of both:

• Accommodation Payment:
• Refundable Accommodation Deposit (RAD), Daily Accommodation Payment (DAP), or both;
• Accommodation Contribution:
• Refundable Accommodation Contribution (RAC), Daily Accommodation Contribution (DAC) or both.

The relationship between the refundable lump sum and the daily payment is:

Equivalent daily payment = (refundable deposit × maximum permissible interest rate)/365